Summers Close Residents Limited - Limited company accounts 16.1

REGISTERED NUMBER: 05423297 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2015

for

Summers Close Residents Limited

Page

Company Information

1

Report of the Directors

2

Report of the Accountants

3

Profit and Loss Account

4

Statement of Total Recognised Gains and Losses

5

Balance Sheet

6

Notes to the Financial Statements

7

DIRECTORS:

A E Aviss

R J Denton

A R Dunks

SECRETARY:

Hobdens Property Management Limited

REGISTERED OFFICE:

41a Beach Road

Littlehampton

West Sussex

BN17 5JA

REGISTERED NUMBER:

05423297 (England and Wales)

ACCOUNTANTS:

Haines Watts Southampton Limited

Chartered Accountants

130 Bournemouth Road

Chandler's Ford

Eastleigh

Hampshire

SO53 3AL

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

PRINCIPAL ACTIVITY

The company's principal activity during the year continued to be the management and maintenance

of the residential estate, Summers Close, Rustington, Littlehampton, BN16 2HY.

Service charges are collected from the lessees to meet the costs of maintaining and managing the

estate. Service charges are held in trust for the benefit of the lessees. Separate service charge

accounts are prepared detailing the service charge expenditure incurred in the year and these are

made available to the lessees of the property.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2015 to

the date of this report.

A E Aviss

R J Denton

A R Dunks

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

R J Denton - Director

21 September 2016

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2015 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Haines Watts Southampton Limited

Chartered Accountants

130 Bournemouth Road

Chandler's Ford

Eastleigh

Hampshire

SO53 3AL

23 September 2016

TURNOVER

-

-

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

-

-

Tax on profit on ordinary activities

3

-

-

PROFIT FOR THE FINANCIAL YEAR

-

-

TOTAL RECOGNISED GAINS AND LOSSES RELATING TO THE YEAR

-

-

Note

Prior year adjustment

4

(32,105

)

TOTAL GAINS AND LOSSES RECOGNISED SINCE LAST ANNUAL REPORT

(32,105

)

CURRENT ASSETS

Debtors

5

13

13

TOTAL ASSETS LESS CURRENT LIABILITIES

13

13

CAPITAL AND RESERVES

Called up share capital

6

13

13

SHAREHOLDERS' FUNDS

13

13

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 21 September 2016 and were signed on its behalf by:

R J Denton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

The company was dormant throughout the current year and previous year.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the

company qualifies as a small company.

Service charges

The company is responsible for the management and maintenance of the residential estate,

Summers Close, Rustington, Littlehampton, BN16 2HY.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.15

31.12.14

as

restated

£

£

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended

31 December 2015 nor for the year ended 31 December 2014.

4.	PRIOR YEAR ADJUSTMENT

During the year the company changed its accounting policy. For the year ended 31 December

2015, it was decided to reflect service charge income and expenditure relating to the service

charge expenditure in separate service charge accounts for the property prepared in

accordance with best practice guidance for service charge accounts (TECH03/11) and the

lease for the property.

The 2014 accounts have been restated to reflect this change in policy and this has resulted in a

prior year adjustment being made to the opening balance on th profit and loss reserve of

£32,105.

As a result of the change in policy, the profit and loss account has been reduced from a profit

of £2,805 to a profit of £Nil, debtors have been reduced by £699 to £13 and cash at bank has

been reduced from £32,491 to £Nil. Creditors have been reduced from £1,085 to £Nil.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

as

restated

£

£

Other debtors

13

13

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

as restated

£

£

12

Ordinary

£1.00

12

12

5

Ordinary B

£0.20

1

1

13

13

7.

RESERVES

Profit

and loss

account

£

At 1 January 2015

32,105

Prior year adjustment

(32,105

)

Profit for the year

-

At 31 December 2015

-